AG formation in Germany.
€50,000 capital. Listing-ready.
Aktiengesellschaft is Germany's joint-stock form. Mandatory three-body governance: Vorstand, Aufsichtsrat, Hauptversammlung. The right vehicle when you plan to list, scale ESOP, or accept private-equity wrappers.
When the €50,000 upgrade pays off
Plan to IPO or list on Xetra. Running ESOP at scale. Accepting private-equity deals requiring AG wrapper. Applying for licences that demand AG form. Needing multiple share classes with differentiated voting and dividend rights. For almost everything else, a GmbH is cheaper to form and simpler to run.
The three bodies
Vorstand (§ 76 AktG): runs the business, represents the AG externally, independent of shareholders. Aufsichtsrat (§§ 95–117 AktG): appoints and removes Vorstand, approves key transactions, minimum 3 members, at least 2 meetings per year. Hauptversammlung (§§ 118–149 AktG): shareholders, approves accounts and dividend, elects Aufsichtsrat.
Formation timeline and steps
Drafting Satzung + Aufsichtsrat composition (2 to 3 weeks), notarial Beurkundung + share subscription (1 week), Aufsichtsrat founding audit under § 33 AktG (1 to 2 weeks), HR filing and registration (2 to 4 weeks). Total 6 to 10 weeks typical.
Cost breakdown
Notary (Geschäftswert = Grundkapital €50k min): €800 to €2,500. HR fees: €250 to €500. If in-kind contributions (Sachgründung), Gründungsprüfer report: €3,000 to €10,000. Our legal scope: €3,500 to €7,000 for cash-founding.
Ongoing compliance
Annual Hauptversammlung within 8 months of year-end (§ 120 AktG). Aufsichtsrat min 2 meetings per year. Audit mandatory regardless of size (§ 316 HGB). Jahresabschluss with AG-specific disclosures (§§ 150 ff. HGB). Bundesanzeiger publication. Transparenzregister UBO.
AG formation path
Often booked alongside this one.
Frequently asked questions
What is the minimum share capital for a German AG in 2026?
€50,000 under § 7 AktG.
How much must be paid in at registration?
25% of each subscribed share per § 36 AktG, so €12,500 minimum for a €50,000 cash-founded AG.
Is a supervisory board (Aufsichtsrat) mandatory for every AG?
Yes. Minimum 3 members under § 95 AktG. Size scales under co-determination laws (DrittelbG for ≥500 employees, MitbestG for ≥2,000).
How long does an AG formation take?
6 to 10 weeks typical vs 3 to 6 weeks for a GmbH. Aufsichtsrat composition and founding audit add time.
How much does an AG formation cost all-in?
Pass-throughs €1,800 to €5,000. Gründungsprüfer €3,000 to €10,000 if in-kind. Our legal scope €3,500 to €7,000 cash-founding.
AG or GmbH, which should my startup choose?
GmbH for nearly everything. AG when planning IPO, complex share classes, ESOP scale, or institutional wrapper. Full comparison here.
Can a non-resident be the sole shareholder of an AG?
Yes. No residency requirement on shareholders or Vorstand. Aufsichtsrat members: same, subject to language and corporate-governance practicalities.
Does every AG require an external audit?
Yes, § 316 HGB requires audit regardless of size for an AG.
What are the corporate-governance obligations of an AG?
Annual Hauptversammlung within 8 months of year-end, minimum 2 Aufsichtsrat meetings, Bundesanzeiger publication, audit, Transparenzregister UBO.
How does the AG suit employee stock option plans?
AG is the native ESOP vehicle: shares are transferable securities, multiple classes possible, authorised capital for issuance under § 202 AktG. GmbH can do virtual options but not true share-based ESOP at scale.
Can an AG be converted into a GmbH later, and vice versa?
Yes, Formwechsel under §§ 190-225 UmwG. Tax-neutral under § 25 UmwStG if conditions met.
Tell us what you need
Engineered from Berlin, Hamburg, Düsseldorf and Munich. One partner per office, English contract, response within one working day.